KAVA
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Price
Volume in 24h
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Price 7d
is intriguing in the midst of lots of coins losing 15%-20% of the price in the span of 24 hours amid a mass crypto liquidation event.
Some of those are top 10 coins. Wounded traders all around. The crypto market has liquidated the largest number of traders in a long time. It is on its way to liquidating the largest volume ever – $2.33 billion. The largest single liquidation was $38 million! Disclosure: I personally contributed a small amount to the grand total myself, lol!
The only other liquidation event larger than $2Bn, happened on September 7th, 2021. You can check the liquidation historical data on the CoinGlass platform.
TODAY: $2.33 billion in liquidations as 749,037 traders get wiped out in the past 24 hours. pic.twitter.com/7GGkOOO77E
— Cointelegraph (@Cointelegraph) February 3, 2025
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KAVA Price Analysis: What Does Technical Analysis of the KAVA Chart Reveal?
As a project, Kava is going through rebranding, and the team has released a new roadmap focusing on AI. Decentralized AI, to be more precise, which they believe will be attractive to all who don’t like the idea of centralized AI, such as ChatGPT, etc.
Considering everyone’s chants “the next run is for AI”, the ecosystem is adapting and following the trends, which is a good sign.
It launched in 2020 and did well in the 2020-2022 bull run, making 23x from the low to the high. Since the start of 2023 the price has been consolidating between $1.15 and $0.28.
Take a look at a clean 1D chart with no drawings – just Moving Averages and candlesticks. We are seeing a break and two retests of MA200 and a bullish engulfing candle breaking through the upper two MAs accompanied by large volume. That is for the first time since April 2024.
Moving on to the lower time frame, we’re zooming in on 1H charts. We can see how BTC performed during the last dip and how KAVA’s price sustained and bounced strongly.
For a good visual, I’ve also added the white chart, which compares both assets in one chart. This is a clear sign of market strength and as long as demand sustains, there is a high chance for the asset to grow in value.
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The post KAVA Maintains Price In Midst Of Market-wide Correction appeared first on 99Bitcoins.
